ICB Level 3 Package, M4, M5, M6, M7, M8

Tutor Support

On enrolment, you are allocated your own personal dedicated Professional Bookkeeping Tutor, who is there to support you all the way through the course and to provide guidance and help as you prepare for the ICB exams.

You can have as much or as little contact as you prefer. They are there for you.  Contact can be made by email, phone or Skype through our online support system.

“Thank you so much for all of your support, your help has been invaluable. I am really enjoying the course so glad I decided to sign up. Doing the course has made me feel a lot more confident in my current job and who knows, it might even lead me to a better one.”    Mandy, ICB Level II Package, UK

COURSE CONTENT

The course content listed below covers the same syllabus and topics covered in the ICB exam. 

What you will learn

ICB Paper M4 – Reconciliations and Final Accounts of a Sole Trader
Taken at home or place of work-based assessment to include:

•  Underpinning knowledge
•  Reconciliation and correction of errors (customer and supplier reconciliations, bank reconciliation, correction of errors including the clearance of a suspense account balance)
•  The calculation of summary figures for control accounts
•  VAT Returns (cash and standard VAT returns only but including EU transactions)
•  Posting adjustments including disposal and acquisition of fixed assets
•  Revaluation of assets
•  Final accounts of a sole trader (profit and loss account and balance sheet)

ICB Paper M5 – Final Accounts of a Partnership
Taken at home or place of work-based assessment to include:

•  All of the requirements for paper M4 but set in a partnership scenario plus:
•  Underpinning knowledge
•  Ethical considerations
•  Underpinning knowledge of the legal requirements for a partnership
•  Final accounts of a partnership including the appropriation account and production of partners’ current accounts
•  Calculations and bookkeeping entries to record a change of partnership (partnership ratios, goodwill, the effect on capital and current accounts etc.)

ICB Paper M6 – Final Accounts of a Not-for-Profit Organisation
Taken at home or place of work-based assessment to include:

•  All of the requirements of paper M4 but set in a not-for-profit scenario plus:
•  Underpinning knowledge regarding not-for-profit organisations
•  Understanding the different requirements of a chart of accounts for such an organisation
•  Understand the concepts of the different forms of income for not-for-profit organisations including a subscriptions account
•  Posting adjustments including the subscriptions account and disposal and acquisition of fixed assets
•  Final accounts of a not-for-profit organisation

ICB Paper M7 – Management accounts of incorporated businesses
Taken at home or place of work-based assessment to include:

• Limited Companies: Final accounts including adjustments for a limited company (internal management accounts format only)
• Limited Liability Partnerships: Employment Status in LLP’s, Final Accounts for LLP, Interest on Capital
• Mark-up & Margin Calculations
• Ratios and Performance Indicators• calculation and interpretation of ratios
• Cash Budgets: The Cash budget,  and Preparing Cash Budget Using changes in  the Balance sheet

ICB Paper M8 – Level 3 External Assessment
This is an external exam and covers the entire Level 3 syllabus. The assessment combines a mixture of multi-choice and data entry questions and is taken at a Pearson VUE testing centre.

GRADING

Qualifications are graded as: Distinction with Honours, Distinction, Merit or Pass

All assessments must be successfully achieved to gain the full qualification. Each assessment will generate a separate accreditation notification.
The home or work place based assessments are graded as follows:

• Distinction 95-100%
• Merit 90-94%
• Pass 85-89%
• Fail 0-84%

Assessment taken at an external ICB centre will be graded as follows:

• Distinction 90-100%
• Merit 80-89%
• Pass 70-79%
• Fail 0-69%

Once all assessments have been successfully completed a final certificate will be awarded which will be graded at Distinction with Honours, Distinction, Merit or Pass. Unit percentage results will be averaged. The following average % marks show an example of how the final grade might be awarded (note the same range of marks may give a different overall result depending on the number of Passes, Merits and Distinctions achieved):

• Distinction with Honours – 98% and above (with all five papers being graded at Distinction)
• Distinction – 95-97% overall (with all papers graded at least at Merit or Distinction)
• Merit – 90-94% (can be a mixture of individual grades)
• Pass – 80-89% (can be a mixture of individual grades)

TUTOR PROFILE

Our ICB Bookkeeping tutors have over 40 years bookkeeping experience between them, are active within the bookkeeping profession, up-to-date with current bookkeeping practices and legislation and are dedicated to helping students achieve their bookkeeping goals.

Paul Evans
CAPM, MICB, CB.Dip, PM.Dip, AMCollT, BSYA (Cl. Fit.)

Paul brings three decades of real-world business and bookkeeping expertise. His bookkeeping and business experiences include many international Project Management programmes, Directorships, Managerial positions and bookkeeping services. Pauls’ active participation in the bookkeeping profession ensures he is up-to-date with current accounting practices. He is a full member of the ICB. His international business background and role as a business counsellor, is an added bonus when helping students pursue their bookkeeping career.

Pauls friendly, helpful and motivating personality is a contributing factor in helping many students achieve Distinction in their ICB exams. Paul welcomes the New ICB syllabus as it will help students be better equipped to provide bookkeeeping skills and services for todays complex business world. Job opportunites, whether for self-employment or working as a bookkeeper are boundless, nationally and internationally.

• ICB Exam Fees for ‘M4’, ‘M5’, ‘M6’, ‘M7’ and ‘M8’
• Sage 50  Software for M4
• Printed Workbooks containing lessons, examples, activities and assessments
• Printed Model Answers Workbooks
• Tutor Marked Assignments
• Allocated your own personal Professional Bookkeeping Tutor
• Prompt assignment marking
• One FREE Mock exam per module
• Free Postage and Packaging within the UK
• FREE access to ICB’s award-winning membership benefits scheme.

*NB – Software not compatible with macs. We suggest using Apple Bootcamp to install Windows*